XRP is trading steadily above $2.10
XRP is trading steadily above $2.10, and some signs suggest the price could move higher soon. One of the most important signals comes from a recent drop in exchange reserves. On-chain data shows that the amount of XRP held on Binance has reached its lowest level in several months. This drop usually means fewer people are ready to sell their XRP, which can reduce pressure on the price.
Exchange Supply Shrinks as Holders Move Tokens Off Binance
Exchange reserves refer to the number of tokens held on trading platforms like Binance. When these reserves fall, it means more investors are moving their XRP to private wallets or cold storage. This is often a sign that people want to hold their tokens for the long term rather than sell them. As of April 14, Binance held about 2.76 billion XRP. This is a sharp decline compared to earlier this year, when reserves were well above 3 billion XRP. Lower supply on exchanges makes it harder for large sell-offs to happen, which can help support the price.
Additionally, on April 14, the token saw a net inflow of nearly $20 million into spot markets. Spot markets are where traders buy and sell crypto for immediate settlement. A net inflow means more money is coming into the market to buy XRP than is leaving it.
While inflows can sometimes suggest that traders are preparing to sell, the context here suggests otherwise. With exchange reserves falling and price holding steady, it’s likely that this new capital is being used to buy and hold XRP, not dump it. This kind of accumulation has also been seen before major rallies. If this trend continues, it could push prices even higher.
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XRP Is Trading in a Bullish Channel
Looking at the price chart, XRP has formed an ascending channel. The current price is around $2.14, which is near the middle of this channel. As long as the token stays within this rising channel, the trend remains bullish.
Right now, token’s RSI is around 58. This is a healthy level and suggests the price still has room to rise before becoming overbought. The next resistance lies between $2.30 and $2.50. If the price breaks above the upper boundary of the channel and moves past $2.30, it could make a strong move toward $2.50. That level is important because XRP failed to break past it earlier this year. If it can break through this time, it may lead to a further rally.
However, if the price fails to stay within the channel or drops below the $2.10 support, the bullish outlook could weaken. In that case, XRP could fall toward $1.90 or even lower.